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Irish insurance company FBD swung to first-half profit thanks to a decline in claims frequency, benign weather and positive prior year reserve development.
For the six months ended 30 June, pre-tax profit was €22m compared with a loss of €9m in 2020 as gross written premium rose to €181 million, up from €176 million.
Combined operating ratio improved to 92.0% from 103.0%, generating an underwriting profit of €13.0 million, up from loss of €4.7 million.